This week in Laughing Stock, we look at FTX, Argentina winning the FIFA World Cup and Brightcom
I'm extremely happy this week. My favourite player won the FIFA World Cup 2022 and my investments are up for the week (they are still down for the year which we shall not talk about). But what an amazing way to end the year, isn't it? I'm really going to miss it, except for the market because I absolutely hated it. I get that when you get a good year like 2021 you ought to have a bad year, but this bad? Good Lord, it's depressing. And a new COVID variant now? No wonder people are scared of the market. But our job is to process that fear through memes so here we are once again.
I've been wanting to use this template for a long time but didn't get the concept. So I thought from the perspective of HDFC Bank shareholders (no hate against them) and realised how jealous they are of public banks right now. But let's dial back a few years. Who was at the top? Let's not forget the consistent king.
Yes, they won the World Cup which was also the last World Cup for one of, if not the greatest player of all time. But do you know what their inflation rate is? It's 88 per cent! Yes, you read that right. As of November 2022, their inflation rate was 88 per cent. It's more than what I got in my 12th board exams.
Just kidding guys, my portfolio is up 1 per cent for the year, thanks to my investments in top notch PSU banks. I'm 100 per cent sure that they will continue their impressive growth and will make me a fortune in the coming years (if you don't understand the sarcasm, then I will look so stupid).
Bruh! Imagine your stock going up 3,996 per cent in 2021 only to crash 73 per cent in 2022. Have I told you before? Of course, I would have multiple times but what's the pain in telling again. The stock has crashed more than 50 per cent for four times in the last 10 years. People talk about roller coaster rides, this is the real roller coaster ride.
Can we all collectively convince ourselves that the current share price of PayTM is after some kind of split or bonus? I mean it makes more sense and also makes us happy to say that the share has fallen 74 per cent since listing.
SBF: I have $100k left— Not Jerome Powell (@alifarhat79) December 22, 2022
Also SBF: $250 million bail? No problem here it is
Just a couple of weeks ago, Sam Bankman-Fried, the founder and ex-CEO of FTX, said that he only has around $100k left with him. Fast forward to now, he has been released on a $250m bail. I'm not good at math but I'm pretty sure that the difference between $250m and $100k is sky high.
Bill Gates is about to be eating good. pic.twitter.com/zdi2TZN5OF— [email protected] (@Carnage4Life) December 22, 2022
I'm a long term investor and really believe in it too. But sometimes when I see things like this, I wonder what's even the point? I read annual reports for hours only for some guy to make a million dollars in an hour through a trade. Maybe I should install Telegram afterall.